News

Further interest rates cuts to hit savers

Published

9 years ago

August 25, 2016

SAVERS face further misery as the Bank of England slashed interest rates to 0.25% yesterday (Aug 4) in an attempt to stimulate the struggling economy in the wake of the Brexit vote.

Retirees and the semi-retired reliant on savings in ‘safe’ bank and building society accounts face a double whammy as record low interest rates combine with rising inflation caused by a weakened pound.

The Bank of Scotland pre-empted this move last week when it wrote to 1.3 million business customers warning that they could start imposing charges on credit balances; effectively imposing negative interest rates.

This would follow moves by banks in Switzerland and Sweden. Even if negative interest rates are not introduced for individual savers, interest rates of practically zero will see hard-earned nest eggs shrink in real terms as the the cost of living rises.

This will be a huge blow to thrifty pensioners who did though they had done ‘the right thing’ throughout their working lives by putting money aside for retirement. The over 65s form a disproportionately high percentage of the west Wales population, and as they are forced to further tighten their belts, this will pile more pressure onto struggling local businesses in one of the most deprived areas of the UK.

Mrs Alice Hughes from Pembroke Dock, who relies on a small nest egg to top up her state pension, told the Herald: “I’ve always been careful and put money away in the building society. With interest rates the way they are now, I’m wondering whether I’d be better off keeping it under the mattress.”

Mr Ronald Edwards from Cardigan, who is due to retire in six months time said: “I’ve been looking at annuities online, and the amounts being offered are so low, I might as well cash in my pension pot and buy a classic car. At least there’s a chance of it increasing in value.”

In further moves, the Bank of England announced further printing of money to prop up the economy, and revised the growth forecast for 2017 from 2.3% to 0.8%.

With pressure on company pension pots creating difficult decisions for managers about whether to invest in wage increases or filling the pension deficit, workers in west Wales could see their already low wages stagnate for the foreseeable future.

Mark Carney, the Canadian Govener of the Bank of England said that this was a necessary step to adjust to the new reality post-Brexit, in which the economic outlook has changed.

There may be some positive news for those with savings in stocks and shares, which receive a boost when interest rates are cut.

There is more positive news for mortgage holders and home-buyers on variable interest rate mortgages, who will see a drop in their monthly payments.

As the pound continues to slide against the dollar, holidaying in the UK may become a more attractive option to families feeling the squeeze, providing a boost to the west Wales tourist industry.

How are you being affected by the record low interest rates? Email [email protected].

Crime

Man who threw corrosive liquid at guest and fled abroad jailed

Published

12 hours ago

February 18, 2026

Court Reporter

A BUSINESSMAN who threw a corrosive liquid into a guest’s face during a row at a spiritual retreat before fleeing the country has been jailed for 18 months.

Dean Mayze, aged 38, from Abercrave in Powys, admitted inflicting grievous bodily harm following the attack at his Hafan-y-Coed retreat in December 2022.

Swansea Crown Court heard the assault happened after an argument with guest Keifer Price, who had complained about the condition of his accommodation, including a lack of heating and washing facilities.

During the confrontation, Mayze produced a blue container and threw its contents upwards into the victim’s face.

The liquid — described as smelling like ammonia — entered Mr Price’s eyes, nose and mouth, leaving him in severe pain and struggling to breathe.

Medical evidence confirmed injuries consistent with a chemical burn to both eyes. He suffered abrasions, a corneal defect and the loss of the outer corneal layer in one eye, requiring significant treatment to prevent permanent sight loss. He has since recovered without lasting injury.

Fled across Europe

Following the attack, Mayze fled the UK, triggering an international search.

The court heard he travelled across several European countries, including Ireland, France, Italy, Croatia and Greece, before eventually being arrested in Romania in 2025.

Despite being on the run, he remained in regular contact with police by text and email, at one point telling officers he would not be returning to Wales.

His partner initially claimed responsibility for the assault and later received a suspended prison sentence after admitting perverting the course of justice.

Previous conviction

The court was told Mayze has a previous conviction for wounding involving a corrosive substance in Kent in 2013.

Defence barrister Andrew Taylor said his client had experienced harsh conditions while detained in Romania, including contracting scabies without treatment, and described him as remorseful.

However, Judge Geraint Walters said it was “pure luck” the victim had not suffered permanent injuries, describing the attack as a “particularly wicked way of inflicting violence”.

Sentence and order

Mayze, who appeared via video link from prison, had previously denied a more serious charge of causing grievous bodily harm with intent.

He was sentenced to 18 months’ imprisonment and made subject to a three-year restraining order.

Crime

Police appeal after man injured in St Davids incident

Published

17 hours ago

February 18, 2026

Tom Sinclair

DYFED-POWYS POLICE are appealing for witnesses following an incident in St Davids which left one man injured.

The incident happened in Nun Street at around 11:10am on Tuesday, December 30. The injured man was taken to hospital for treatment.

Officers confirmed that a man has been arrested on suspicion of assault in connection with the incident.

Police are now asking anyone with information, dash cam footage, or CCTV that could assist the investigation to come forward.

Anyone with information is asked to contact Dyfed-Powys Police online at:
https://www.dyfed-powys.police.uk/contact/af/contact-us-beta/contact-us/

Alternatively, email [email protected], send a direct message via social media, or call 101 quoting reference DP20251230094.

Information can also be provided anonymously to Crimestoppers on 0800 555111 or via crimestoppers-uk.org.

Crime

Sexual assault allegation to be tried

Published

18 hours ago

February 18, 2026

Tamsin Mathias

Accused granted conditional bail

A SEXUAL assault allegation has been listed for trial following a hearing before magistrates.

David Fletcher, 45, of Chestnut Way, Mount Estate, Milford Haven, Pembrokeshire, appeared before magistrates in Llanelli on Thursday (Feb 12) charged with sexual assault, contrary to section 3 of the Sexual Offences Act 2003.

The charge alleges that on March 16, 2025, at Johnston, Pembrokeshire, he intentionally touched a woman aged 16 or over and that the touching was sexual when she did not consent and he did not reasonably believe that she was consenting.

The matter was adjourned for trial and Fletcher was remanded on conditional bail.

The trial is listed for March 9, 2026 at Haverfordwest Magistrates’ Court. Bail conditions prohibit him from entering a specified premises in Johnston, from contacting directly or indirectly the complainant or any prosecution witnesses, and from posting any information relating to the investigation on social media. The conditions were imposed to prevent further offending and to prevent interference with witnesses or obstruction of justice.